Export and import trade finance solutions at ANZ help manage your business's cash flows more effectively and mitigate risk.
The following ANZ trade solutions may assist in managing cash flow.
Trade Finance Loans (NZD or foreign currency) to facilitate open account transactions
A trade finance loan is an advance denominated in either domestic currency or the foreign currency of the payment obligation, enabling exporters/importers to finance their trade commitments on a transactional basis. A trade finance loan must be subject to a genuine underlying trade transaction evidenced by appropriate trade documentation.
The open account method is used to settle import and export transactions between two international trading parties. Clearance of outstanding balances on the account is at mutually agreed periods. This payment method requires absolute trustworthiness on behalf of both parties. The risk is with the exporter under this type of open account transaction.
This method requires a payment to be made to the exporter before goods are shipped. Usually telegraphic transfers are used by the importer (buyer) to deposit money into the account of the exporter (seller) prior to shipment date. The risk is with the importer under this type of open account transaction.
This may be defined as a formal undertaking, issued by a bank, engaing to honour drawings provided certain requirements, which it contains, are complied with. Typically used by buyers and sellers that are yet to establish a strong relationship. The Buyers require a prearranged documentary credit facility with their bank.
Documents relating to an export of goods are forwarded through the banking system to the overseas buyer in exchange for payment. The payment collection may occur either at ‘sight’ (when the customer sees the documents – known as a Documentary Payment) or at ‘term” (at an time agreed in the future where a Bill of Exchange is crucial – known as a Documentary Acceptance).
ANZ Transactive Trade
ANZ Transactive Trade is an interactive web-based solution that allows you to create, track and report on your organisation’s trade finance transactions.
Whether you import or export, the electronic trade banking system, allows you to initiate and manage your trade solutions online from start to finish, saving you time and reducing your paper flows.
- access anywhere, anytime
- real-time updates on trade transactions
- create and amend trade transactions as required
- utilises tokens for 2 factor authentication.
A bank guarantee is an agreement by the bank to pay a specified amount to a specified third party (principal) on behalf of our client. This enables our client to enter trade or financial arrangements without the need to outlay cash (or security) to satisfy conditions dictated by a trade or financial contract.
It is common business practice when tendering for large capital projects for the tenderer to be supported by a Bid Bond. The Bid Bond is an indication of the applicant company's ability to carry out the work being tendered for.
Most capital works projects put out to tender require the successful tenderer to lodge a Performance Bond after being awarded the contract. The Performance Bond is an indication that the applicant company has the necessary skills and capabilities to carry out the required work and comply with the agreed terms and conditions of the contract.
A Carnet is essentially a passport for your vehicle or goods, enabling you to make all customs arrangements before you go, and at a pre-determined cost.
- Costs includes an administration fee and a security deposit.
- Normally valid for 12 months.
- May be used on a regular basis in many different countries for a wide range of goods.
ANZ credit criteria apply. Fees, charges, terms and conditions apply.